GSV submits USD2.5bn offer to take over holding company of Malaysia Airlines

Golden Skies Ventures (GSV) submitted a USD2.5 billion offer to Morgan Stanley to take over the holding company of Malaysia Airlines (Reuters/Straits Times/The Edge Markets/South China Morning Post, 07-Apr-2020). CEO Shahril Lamin stated GSV will take about three to four months to get long term financing from undisclosed firms. It is also reportedly in talks with other foreign banks and private equity firms for further funding. Deputy CEO Ravindran Devagunam stated Malaysia Airlines "is still a viable venture, it has inherent strengths", adding: "We are saying we won't lay off the 13,000 frontline employees and we are not going to asset strip the airline".